This story originally appeared on Zacks
In the latest trading session, Cassava Sciences, Inc. (SAVA) closed at $50.16, marking a +0.95% move from the previous day. The stock outpaced the S&P 500’s daily gain of 0.34%.
Prior to today’s trading, shares of the company had gained 2.43% over the past month. This has outpaced the Medical sector’s loss of 4.68% and the S&P 500’s loss of 0.12% in that time.
Investors will be hoping for strength from SAVA as it approaches its next earnings release. The company is expected to report EPS of -$0.17, down 183.33% from the prior-year quarter.
Any recent changes to analyst estimates for SAVA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SAVA is holding a Zacks Rank of #3 (Hold) right now.
The Medical – Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Cassava Sciences, Inc. (SAVA): Free Stock Analysis Report
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